There were seven new CEO roles that opened up from January 17th to February 21st, for a total of 50 Open CEO slots, all listed in this report.
The seven new openings include: Dow Jones (New York), Fairway (New York), Famous Dave's (Minnesota), Gulfport Energy (Oklahoma), American Eagle Outfitters (Pennsylvania), Pepco Holdings (Washington, D.C.) and Kingfisher Airlines (India).
During the same time period, there were 35 new appointments:
- Two were existing board members
- 14 were external appointments
- 19 were internal promotions
Geographically, the appointments are as follows:
- 26 in the U.S.
- One in Canada
- 8 major international
Out of the 35 appointments, two were women. One was the sister of the CEO (Kongregate) and one an external hire (Proto Labs).
There was a 25% decline of CEO appointments in January from the month before and 16% decline from a year earlier.
Top Industry sectors in January are: Energy, Manufacturing, Banking and Business services.
For more details, please refer below to CEOs Wanted and CEOs Appointed.
You can also see our recent reports: 2013 Trends in Tech. Company Boards, Technology Boards, and Characteristics of Successful Tech Company CEOs.
Vell Executive Search
Arkansas Capital Corporation, Little Rock, AR Revenues: Private
Arkansas Capital Corporation Group provides commercial financing services. The company was formerly known as First Arkansas Development Finance Corporation.
July 2013 - Sam Walls, who served as the CEO of The Arkansas Capital Corporation Group, has retired after 24 years of service. Rush Deacon, who has served as Chairman of the Board of Arkansas Capital Corporation, is now serving as the acting CEO for the company.
Impax Laboratories, Hayward, CA Revenues: $581.7m
Impax Laboratories is a specialty pharmaceutical company.
June 2013 - Impax Laboratories announced that Dr. Larry Hsu plans to retire as President and CEO of Impax Laboratories. Dr. Hsu will remain with the Company in his current position until a replacement CEO is hired; he will also remain a member of the Board of Directors following the appointment of his successor.
ReachLocal, Woodland Hills, CA Revenues: $455m
ReachLocal offers online marketing and reporting solutions, including search engine marketing, display advertising, and online marketing analytics targeted to the SMB market.
September 2013 - ReachLocal announced that Zorik Gordon has resigned as CEO to pursue other entrepreneurial opportunities. David Carlick, Chairman of the Board, has been appointed interim CEO. The board has commenced a search for a new CEO and will consider both current members of management and outside executives.
Ixia, Calabasas, CA Revenues: $413m
Ixia is a provider of converged Internet Protocol (IP) network validation and network visibility solutions.
October 2013 - Ixia announced that Vic Alston has resigned as its President and CEO and as a member of its board of directors following a determination by the Ixia audit committee that although he had attended Stanford University, he had misstated his academic credentials. The Board plans to commence a search to identify a permanent CEO for the company. The board has appointed Errol Ginsberg, Ixia’s chairman of the board, founder and former CEO as acting CEO (in addition to his current role as chief innovation officer), and Alex Pepe, senior vice president, strategy, as chief operating officer.
Demand Media, Santa Monica, CA Revenues: $380.6m
Demand Media is a diversified Internet media and domain services company.
October 2013 - Demand Media announced that CEO and Chairman Richard Rosenblatt has resigned. In his stead, the board has named Shawn Colo as interim president.
Maxwell Technologies, San Diego, CA Revenues: $159m
Maxwell Technologies together with its subsidiaries, develops, manufactures, and markets energy storage and power delivery products, and microelectronic products worldwide.
October 2013 - Maxwell Technologies CEO David Schramm will retire from his position and the company has begun the search for a qualified individual.
Mozilla, Mountain View, CA Revenues: Private
Mozilla is the the nonprofit organization behind Firefox, Firefox OS and other online tools.
April 2013 - Mozilla, the nonprofit organization behind Firefox, Firefox OS and other online tools, announced that its CEO Gary Kovacs, who joined Mozilla in 2010, has stepped down. The organization has started a search for his replacement.
Crocs, Niwot, CO Revenues: $1.1b
Crocs is a designer, manufacturer and distributor of footwear and accessories.
January 2014 - Crocs CEO John McCarvel is retiring. Crocs said it is launching an outside search for McCarvel's replacement.
WellCare Health Plans, Tampa, FL Revenues: $7.4b
WellCare Health Plans is a provider of managed care services to government-sponsored health care programs, focusing on Medicaid and Medicare.
October 2013 - The Board of Directors appointed David J. Gallitano, the company's Chairman, to serve as the company's interim CEO, while a search is conducted by the board for a new CEO
Alternate Energy Holdings, Eagle, ID Revenues: NA
Alternate Energy Holdings is engaged in the purchase, optimization and construction of
green energy sources, primarily nuclear power plants.
November 2012 - Alternate Energy Holdings announced that founder Don Gillispie will step down as CEO and Director after seven years. The decision was made amid ongoing health concerns, although Gillispie will assist the company part time as a consultant only as his health allows going forward. In his place, the AEHI Board of Directors voted unanimously to appoint Pete Honeysett, AEHI Director of Nuclear Projects, as interim President.
Essex Rental, Buffalo Grove, IL Revenues: $98.3m
Essex Rental is engaged in providing of lifting equipment (including lattice-boom crawler cranes, truck cranes, tower cranes, etc.) used in an array of construction projects.
November 2013 - Essex Rental announced that President and CEO Ronald Schad has elected to resign. Mr. Schad will remain as CEO until a replacement is appointed.
MGP Ingredients, Atchison, KS Revenues: $334m
MGP Ingredients produces certain distillery and ingredient products which are derived from corn, rye and barley, and wheat flour.
January 2014 - MGP Ingredients elected CFO Donald P. Tracy and VP, Engineering Randall Schrick to serve as interim Co-CEOs until a replacement CEO is hired.
Waters Corporation, Milford, MA Revenues: $1.84b
Waters Corporation is a laboratory analytical instrument and software company.
August 2013 - Waters Corporation announced that Douglas A. Berthiaume has communicated his intention to retire as CEO within the next twenty-four months. The Board of Directors has appointed a Succession Planning Committee that will guide the process of selecting a successor, and plans to engage an executive search firm to assist in a search which will consider both internal and external candidates.
Watts Water Technologies, North Andover, MA Revenues: $1.4b
Watts Water Technologies is a supplier of products for use in the water quality, water safety, water flow control and water conservation markets.
January 2014 - David J. Coghlan resigned as CEO, President and Director. Current EVP and CFO, Dean P. Freeman, 50, will serve as interim CEO and President.
Famous Dave's of America, Minnetonka, MN Revenues: $155m
Famous Dave's of America operates restaurants. As of January 1, 2012, there were 187 Famous Dave's restaurants operating in 37 states, including 54 company owned restaurants and 133 franchise operated restaurants.
February 2014 – The restaurant company’s CEO John Gilbert resigned abruptly and will be succeeded on an interim basis by a recently appointed board member, Ed Rensi, a former McDonald’s executive.
American Railcar Industries, St. Charles, MO Revenues: $159.4m
American Railcar Industries designs and manufactures hopper and tank railcars in North America.
March 2013 – American Railcar Industries announced that James Cowan, its President and CEO, has resigned in order to pursue other interests. The board has appointed Jeffrey S. Hollister, who was most recently overseeing the company's railcar manufacturing group, as President and interim CEO.
Suburban Propane Partners, Whippany, NJ Revenues: $1.64b
Suburban Propane Partners, L.P. (the Partnership) is a nationwide marketer and distributor of a range of products meeting the energy needs of the customers.
November 2013 - Suburban Propane Partners, L.P. announced that Michael J. Dunn, Jr. its President and CEO, will retire at the end of the current fiscal year, effective September 27, 2014.
Sun Bancorp, Vineland, NJ Revenues: $70.1m
Sun Bancorp and its subsidiary Sun National Bank provides commercial and consumer banking services.
November 2013 - Sun Bancorp announced that Thomas X. Geisel, President and CEO of the company and its wholly owned subsidiary, Sun National Bank, will terminate his employment and also resign as a member of the board. The company has retained the international firm of Spencer Stuart to assist in the selection of a new CEO. Chairman Sidney R. Brown will serve as interim President and CEO.
Los Alamos National Bank, Los Alamos, NM Revenues: Private
Los Alamos National Bank is a full service financial institution, serving customers in northern New Mexico.
February 2013 - Los Alamos National Bank’s CEO Bill Enloe has announced his retirement. Bank president Steve Wells will take over as interim CEO.
Eastman Kodak Company, Rochester, NY Revenues: $4.11b
Eastman Kodak Company (Kodak) is a picture and printing company.
July 2013 - Antonio Perez, who has led Eastman Kodak Company’s transformation into a commercial imaging company, will serve one year (at most) as CEO as the company emerges from Chapter 11 bankruptcy. Perez will work with the board to identify his successor. The company emerged from bankruptcy on Sep 3, 2013.
Morgans Hotel Group, New York, NY Revenues: $189.9m
Morgans Hotel Group is a fully integrated lifestyle hospitality company.
September 2013 - Morgans Hotel Group said Michael Gross resigned as CEO after its largest shareholder led an ouster of the board. Jason Kalisman, the company’s chairman, will take over as interim CEO.
Fairway Group Holdings, New York, NY Revenues: $661m
Fairway Group Holdings Corp. operates in the retail food industry, selling fresh, natural and organic products, prepared foods, and specialty and gourmet offerings along with a assortment of conventional groceries.
February 2014 - Herbert Ruetsch is retiring after two years as CEO of Fairway. President William Sanford will become interim CEO.
Dow Jones & Company, New York, NY Revenues: NA
Dow Jones & Company is an American publishing and financial information firm and a division of News Corp.
January 2014 - Lex Fenwick, CEO of Dow Jones & Co., has left. Chief creative officer of News Corp, William Lewis, has assumed the role on an interim basis.
EQM Technologies & Energy, Cincinnati, OH Revenues: $79.5m
EQM Technologies & Energy, formerly Beacon Energy Holdings, is engaged in the production and marketing of biodiesel.
June 2013 - EQM Technologies & Energy announced the appointment of Jon Colin as its interim CEO. Colin will assume CEO duties immediately while EQM’s board initiates a search for a permanent chief executive
Semgroup Corporation, Tulsa, OK Revenues: $1.07b
Semgroup is involved in the transport of oil and natural gas from refineries to end users as well as the manufacture and sale of asphalt.
August 2013 - Norman J. Szydlowski, President and CEO of SemGroup Corporation, advised the Board of Directors of the company that he will retire once a successor is in place. Szydlowski will continue to serve in his current capacities to ensure an orderly transition.
Rose Rock Midstream, Tulsa, OK Revenues: $620.5m
Rose Rock Midstream owns, operates, develops and acquires a diversified portfolio of midstream energy assets.
August 2013 - Norman J. Szydlowski, President and CEO of the general partner of Rose Rock Midstream, L.P. advised the Board of Directors of the General Partner that he will retire once a successor is in place. Szydlowski will continue to serve in his current capacities to ensure an orderly transition.
WPX Energy, Tulsa, OK Revenues: $3.1b
WPX Energy is an independent natural gas and oil exploration and production company engaged in the exploitation and development of long-life unconventional properties.
December 2013 - WPX Energy announced that Ralph A. Hill will step down as President, CEO and Board Member and the company has appointed James J. Bender as interim President, CEO and Board Member, effective Dec. 31, 2013. A search committee consisting of four board directors – has been established and the executive recruiting firm of Spencer Stuart has been retained to assist in an external CEO search.
Gulfport Energy Corporation, Oklahoma City, OK Revenues: $248.6m
Gulfport Energy Corporation (Gulfport) is an independent oil and natural gas exploration and production company.
January 2014 - Gulfport Energy Corporation announced that CEO James Palm will retire. Gulfport's Board has begun a search for Mr. Palm's successor. The Board intends to conduct a review of both internal and external candidates. During this interim period, Michael Moore, the Company's President and CFO, will act as interim CEO.
Hurley International, Beaverton, OR Revenues: Private
Hurley International – Owned by NIKE, Hurley is a clothing, footwear, sportswear, and equipment supplier based in the United States.
June 2012 - NIKE announced that company founder and Chairman Bob Hurley will assume the interim CEO role at Hurley International, replacing Michael Egeck who has decided to leave the company. Hurley will work closely with Roger Wyett, President of NIKE Affiliates, and a former CEO of Hurley, during the transition.
Bryn Mawr Bank Corp, Bryn Mawr, PA Revenues: $107.1m
Bryn Mawr Bank Corporation operates as the holding company for The Bryn Mawr Trust Company that provides personal and business banking services.
May 2013 - Bryn Mawr Bank Corporation announced that Frederick C. Peters, II, its Chairman, CEO and President, has informed the Board of Directors of his intent to retire at or prior to the end of 2014. No successor has been named yet.
Michael Baker Corporation, Allegheny County, PA Revenues: $593.4m
Michael Baker Corporation provides engineering services for public and private sector clients worldwide. The company operates in two segments: Transportation and Federal.
December 2012 - Michael Baker Corporation announced that, at the request of its Board of Directors, Bradley L. Mallory has stepped down as President and CEO and Director of the company. The company has created an Office of the Chief Executive, composed of Michael J. Zugay, CFO, and H. James McKnight, Chief Legal Officer, to lead the company on an interim basis. Supporting this office will be an Operations Committee consisting of senior operating executives representing the company's business segments. Korn/Ferry to assist Baker board with CEO search.
American Eagle Outfitters, Pittsburgh, PA Revenues: $3.5b
American Eagle Outfitters is a specialty retailer that operates in the United Sates and Canada, and online at ae.com.
January 2014 - American Eagle Outfitters (AEO) said chief executive Robert Hanson is leaving the retailer, while executive chairman Jay Schottenstein will step in as his interim replacement.
Kirkland’s, Nashville, TN Revenues: $448.4m
Kirkland’s is a specialty retailer of home decor and gifts in the United States.
March 2013 - Kirkland's announced that Robert Alderson, the company’s long-time President and CEO, has advised the Board of Directors of his intention to retire from the Company at the end of fiscal 2013, or approximately February 1, 2014.
TeamHealth Holdings, Knoxville, TN Revenues: $2.1b
TeamHealth is a provider of outsourced physician staffing solutions for hospitals in U.S.
January 2014 - Team Health Holdings’ CEO has decided to retire. The company's Board of Directors will begin an executive search for a new CEO, while Roth will remain as CEO throughout the search process to manage an orderly transition in the leadership of the company.
KBR, Houston, TX Revenues: $7.77b
KBR is a global engineering, construction and services company.
December 2013 - KBR announced that William P. "Bill" Utt will retire from his role as Chairman, President and CEO in 2014. The Board of Directors has formed a search committee to identify his successor.
UniPixel, The Woodlands, TX Revenues: $7.77b
UniPixel is a production-stage company delivering its Performance Engineered Film (PEF) to the display, touch screen and flexible electronics markets.
January 2014 - Following the resignation of longtime company President and CEO Reed Killion, the board of UniPixel has appointed its chairman, Bernard Marren, and director, Carl Yankowski, as interim co-Presidents and co-CEOs. The search process for a permanent replacement has begun.
LivingSocial, Washington, DC Revenues: Private
LivingSocial provides daily deals with discounts at local restaurants, bars, spas, and theaters in the United States and internationally.
January 2014 - LivingSocial, a daily deal coupon site that’s partially owned by Amazon.com, said co-founder and CEO Tim O’Shaughnessy is stepping down amid stagnant sales. He will remain CEO until the company finds a replacement in the first half of 2014.
Pepco Holdings, Washington, DC Revenues: $5b
Pepco Holdings is engaged primarily in the transmission, distribution and default supply of electricity and the distribution and supply of natural gas.
January 2014 - Pepco Holdings announced that Chairman, President and CEO Joseph M. Rigby has notified to retire from PHI in the first half of 2015. To provide for a smooth transition, Rigby will step down as CEO near the end of 2014, following the selection of his successor.
MTR Gaming Group, Chester, WV Revenues: $478.6m
MTR Gaming Group owns and operates racetrack, gaming and hotel properties in West Virginia, Pennsylvania, and Ohio.
April 2013 - Jeffrey J. Dahl has provided his notice of resignation from his position as President and CEO of MTR Gaming Group to pursue other business opportunities. Dahl has agreed to remain in his current position as the Board conducts its interview process for a new CEO. COO Joseph L. Billhimer adds on the role of Acting President.
Brady Corporation, Milwaukee, WI Revenues: $1.15b
Brady Corporation is a global manufacturer and marketer of complete identification solutions.
October 2013 - Brady announced the retirement of President and CEO Frank M. Jaehnert. Current SVP and CFO Thomas J. Felmer will replace him as interim President and CEO.
Vitran Corporation, Toronto, Ontario Revenues: $702.9m
Vitran provides freight surface transportation and related supply chain services in Canada and United States.
April 2013 - Vitran Corporation announced that its Board of Directors has appointed Bill Deluce, a current member of the board, as interim President and CEO following the resignation of Rick Gaetz as President and CEO and a Director of the Company, effective immediately.
Ritchie Bros. Auctioneers, Burnaby, BC Revenues: $438m
Ritchie Bros. operates as an auctioneer of industrial equipment. The company operates from approximately 110 locations in 25 countries, including 44 auction sites worldwide.
October 2013 - Ritchie Bros. Auctioneers announced that CEO Peter Blake will step down in May 2014. Blake will remain as CEO, continuing to lead the company and the board will initiate a search for his replacement.
Rockbridge Resources, Vancouver, BC Revenues: $288.03m
RockBridge Resources engages in the acquisition and development of oil and natural gas resource properties in Canada.
June 2013 - Canadian junior RockBridge Resources is in the hunt for a new boss after its President and CEO quit. Mike O’Byrne is vacating the top seat “to focus on his own business endeavours” but will remain on the board, the Vancouver-based explorer said. Current director Stephen Mathiesen, a business lawyer and partner with Lang Michener, will step in on an interim basis.
Absolute Software, Vancouver, BC Revenues: $83.2m
Absolute Software is engaged in providing software solutions for the security and management of computers and mobile computing devices.
December 2013 - Absolute Software’s CEO John Livingston has tendered his resignation as CEO and as a member of the Board of Directors. Errol Olsen, CFO, will serve as interim CEO while the Board conducts a search for a new CEO and Daniel Ryan will serve as Chairman of the Board.
Nokia, Espoo, Finland Revenues: $30.17b
Nokia Corporation is a Finnish multinational communications and information technology corporation that is headquartered in Espoo, Finland.
September 2013 - Nokia said its CEO, Stephen Elop, will move to Microsoft Corp when the deal to acquire Nokia's handset business is closed. Nokia board chairman Risto Siilasmaa will take over CEO duties while the Finnish firm is looking for a new CEO. Microsoft is working toward having the successor to CEO Steve Ballmer in place by the end of this year.
Domino’s Pizza Group plc, Milton Keynes, UK Revenues: $240m
Domino’s Pizza Group plc is a pizza delivery company and holds the master franchise to own, operate and franchise Domino's Pizza stores.
December 2013 - Domino's Pizza’s CEO Lance Batchelor would stand down next year. The group has opened the search for a new CEO.
Polyus Gold International Limited, London, UK Revenues: $2.84b
Open Joint Stock Company Polyus Gold, together with its subsidiaries, engages in the extraction, refining, and sale of gold.
November 2013 - Polyus Gold International Limited announces that Mr. Pavel Grachev, a member of the Board of Directors, has taken on the added responsibilities of interim CEO of the Company until a successor is elected, and Mr. German Pikhoya has now resigned as CEO and Director of the company with immediate effect.
Jet Airways (India) Limited, Mumbai, India Revenues: $3.1b
Jet Airways (India) Limited is a holding company. The company is a scheduled airline with domestic and international operations.
January 2014 - Jet Airways announced that Gary Kenneth Toomey had resigned from his position as CEO of the airline with immediate effect. Toomey had joined the airline just six months ago on a three-year contract. CFO Ravishankar Gopalakrishnan will be the acting CEO until the board names a new chief.
Kingfisher Airlines, Mumbai, India Revenues: $5.01b
Kingfisher Airlines Ltd is engaged in rendering scheduled and unscheduled aircraft passenger and cargo services, including charter services.
February 2014 - Kingfisher Airlines CEO Sanjay Aggarwal put in his papers, with no replacement announced.
Wal-Mart: Walmart International’s President & CEO C. Douglas McMillon was appointed as President and CEO of Wal-Mart Stores.
ICU Medical: The medical devices firm named CareFusion executive Vivek Jain as chairman and CEO, replacing iCEO Steve Riggs who continues as VP of Operations.
Violin Memory: The maker of flash-memory storage systems named Wild West Capital exec Kevin DeNuccio as President and CEO to replace Don Basile.
Pacific Investment Management Co: El-Erian will leave his dual roles of CEO and co-Chief Investment Officer in mid-March, and Douglas Hodge, the firm’s operating chief, will become CEO.
Kongregate: Casual games website Kongregate co-founder and CEO Jim Greer is stepping down, replaced by co-founder and current COO Emily Greer as CEO.
Independent Film Development Corporation: Managing Director with private equity firm 51/49 Group David Garland is new CEO of Independent Film Development Corporation.
Crane: Crane appoints President Max H. Mitchell as CEO.
Heidrick & Struggles: Heidrick & Struggles appointed Goldman Sachs Partner Tracy Wolstencroft as its President and CEO.
Millennial Media: The mobile advertising platform company named Michael Barrett, most recently Chief Revenue Officer at Yahoo!, as CEO and director.
Teradyne: Mark Jagiela became CEO of Teradyne in February of 2014. He has been President of Teradyne since January 2013.
Syntel: Syntel appointed President-Americas, Business Development and Near Shoring Center, Nitin Rakesh, as CEO.
Proto Labs: Victoria Holt, most recently CEO at Spartech, takes up CEO role at Proto Labs.
Standex International: Standex International appoints David A. Dunbar, president of the Valves and Controls BU at Pentair, as president and CEO.
Ormat Technologies: Ormat appointed former VeriFone exec Isaac Angel as CEO.
Global Cash Access Holdings: GCA names FIS exec Ram Chary as CEO.
Icahn Enterprises L.P.: Icahn Enterprises L.P. named its board member and EVP of Icahn Enterprises G.P., the general partner of Icahn Enterprises, Keith Cozza, as President and CEO, succeeding Daniel A. Ninivaggi.
Fifth & Pacific Co: The clothing company, once known as Liz Claiborne, will be renamed Kate Spade & Co. in February to reflect its focus on the high-end clothing and accessories brand. William McComb, CEO of Fifth & Pacific, will step down and be replaced by Craig Leavitt, who is currently CEO of Kate Spade.
LipoScience: First Medical diagnostics company LipoScience named president and chief operating officer of Constitution Medical Howard Doran to be its new President and CEO.
GrafTech International: GrafTech International Ltd. appointed Joel Hawthorne, GrafTech's current President of Engineered Solutions, as CEO and President.
Weis Markets: iCEO and Vice-Chair Jonathan Weis named President and CEO.
Diamond Offshore Drilling: Diamond Offshore Drilling appointed Halliburton Company veteran Marc Edwards as President and CEO.
Rackspace Hosting: Graham Weston, co-founder and Exec Chair has stepped up to take over the CEO role, replacing Lanham Napier.
Range Resources: Range Resources has appointed Shell exec Rory Scott Russell as its CEO.
Bristow Group: Provider of helicopter services Bristow Group named SVP/CFO Jonathan E. Baliff as CEO.
comScore: comScore appointed its President Serge Matta as CEO.
Microsoft: Microsoft named EVP of Microsoft’s Cloud and Enterprise group Satya Nadella as CEO.
BlackBerry: BlackBerry appointed former Sybase CEO John S. Chen executive chair and interim CEO, even though he is referred everywhere as CEO.
Deutsche Lufthansa: Deutsche Lufthansa AG appointed Carsten Spohr as Chairman & CEO. He currently oversees the business segment Lufthansa Passenger Airlines in his capacity as board member.
Naspers: South Africa-based Multinational media company Naspers announces that it’s most senior ecommerce chief Bob van Dijk will succeed CEO Koos Bekker.
Johnson Matthey PLC: UK-based Johnson Matthey PLC appoints Finance Director Robert MacLeod as CEO, replacing Neil Carson who is retiring.
RSA Insurance Group Plc: UK-based RSA hired former Royal Bank of Scotland Group Plc CEO Stephen Hester to succeed Simon Lee as CEO.
Computershare: Australia-based Computershare's CEO and president Stuart Crosby will be replaced by Computershare’s current CIO Stuart Irving.
Lanxess AG: Chemical maker Lanxess AG named Merck KGaA finance chief Matthias Zachert as CEO, displacing Axel Heitmann.
NICE Systems: Israel based software firm NICE Systems appointed Barak Eilam, President of NICE Americas, as its new CEO to succeed Zeevi Bregman, who is retiring.
Mitsubishi Electric Corp: Mitsubishi Electric appointed company veteran Masaki Sakuyama as President & CEO, replacing Kenichiro Yamanishi.
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